First TMC3 Collaborative Building tops out, plans to open next year

medical milestone

TMC3's Collaborative Building has topped out. Image courtesy of Texas Medical Center

Construction of Houston’s 250,000-square-foot TMC3 Collaborative Building has reached a milestone.

Founders of the research facility recently celebrated completion of the uppermost part of the building, known as “topping out.” Construction started in January 2021.

The building is part of the first phase of the TMC3 campus, a 37-acre life science property designed to capitalize on the intersection of medicine and commercialization. Founders of the campus are Texas Medical Center, the University of Texas MD Anderson Cancer Center, Texas A&M University Health Science Center, and the University of Texas Health Science Center at Houston.

The TMC3 Collaborative Building, set to open in 2023, will promote innovation and collaboration among the founding institutions, as well as with academic, healthcare, and industry partners. A key feature is a 43,000-square-foot research lab that’ll be shared by MD Anderson, Texas A&M Health, and UT Health Houston.

“The topping out of the TMC3 Collaborative Building marks an integral milestone in the future of life science research and innovation and reflects an unprecedented commitment to collaboration among the four founding institutions,” William McKeon, president and CEO of Texas Medical Center, says in a news release. “The lifesaving research and technologies that will come out of this building will truly revolutionize healthcare.”

In addition to the research lab, the building will include:

  • 85,000 square feet of lab and office space for industry partners.
  • 14,200 square feet for Texas Medical Center’s strategic initiatives, the Braidwell investment firm, the TMC Venture Fund, and national venture and equity fund partners.
  • A 7,000-square-foot atrium for lectures, programs, and informal events.

“Houston already has a place on the world stage as a leader in clinical care and life sciences. With the launch of the TMC3 Collaborative Building and larger TMC3 campus, we showcase why our city leads in the areas of innovation and technology,” Houston Mayor Sylvester Turner says. “In the process, we will create opportunities to bring new partners and industry to our city and generate new jobs for the residents of the Greater Houston community.”
The Texas Medical Center announced the groundbreaking of the TMC3 Collaborative Building. Image courtesy of Elkus Manfredi Architects

TMC breaks ground on collaborative Houston research center

in the works

A fall 2023 opening is set for a research center under construction at the Texas Medical Center's new TMC3 life science campus.

The 250,000-square-foot TMC3 Collaborative Building will house research initiatives organized by the Texas Medical Center, University of Texas MD Anderson Cancer Center, Texas A&M University Health Science Center, and University of Texas Health Science Center at Houston. Construction began in January.

"The founding institutions behind [this building] are among the world's leading innovators in health and science. Their work at both the bench and bedside saves lives. The entire spirit behind this building reflects a joint investment — both financially and strategically — in lifesaving research, data collaborations, and technologies," William McKeon, president and CEO of Texas Medical Center, says in a September 20 news release.

Located at the heart of the 37-acre TMC3 campus and facing the site's Helix Gardens, the $185.8 million, four-story building is designed to foster collaboration among academic healthcare institutions and industry partners. Within the building, the three academic healthcare partners will create a 43,000-square-foot joint research lab. Furthermore, a 7,000-square-foot, 500-seat atrium will be available for lectures and other activities.

Beyond space shared by TMC3's four founders, 85,000 square feet of lab and office space will be developed for industry partners, and MD Anderson will create a 14,000-square-foot space for strategic initiatives. The building also includes 14,200 square feet that will host TMC's strategic initiatives; Braidwell, a life science-focused investment firm; the TMC Venture fund; and national venture and equity and partners.

"This project represents a once-in-a-generation opportunity for Houston's academic medical community to collaborate together and with industry to advance our missions and accelerate knowledge and cures," says Dr. Peter WT Pisters, president of MD Anderson.

"By breaking down silos and bringing clinicians and scientists together in this resource-rich location to speed new therapies to market from regenerative medicine and advanced imaging to drug discovery and data sciences, we will have the ability to translate discoveries into preventions and treatments for patients in need," adds Jon Mogford, chief operating officer and senior vice president of Texas A&M Health.
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Houston SPAC announces merger with Beaumont-based tech company in deal valued at $100M

speaking of spacs

A Houston SPAC, or special purpose acquisition company, has announced the company it plans to merge with in the new year.

Beaumont-based Infrared Cameras Holdings Inc., a provider of thermal imaging platforms, and Houston-based SportsMap Tech Acquisition Corp. (NASDAQ: SMAP), a publicly-traded SPAC with $117 million held in trust, announced their agreement for ICI to IPO via SPAC.

Originally announced in the fall of last year, the blank-check company is led by David Gow, CEO and chairman. Gow is also chairman and CEO of Gow Media, which owns digital media outlets SportsMap, CultureMap, and InnovationMap, as well as the SportsMap Radio Network, ESPN 97.5 and 92.5.

The deal will close in the first half of 2023, according to a news release, and the combined company will be renamed Infrared Cameras Holdings Inc. and will be listed on NASDAQ under a new ticker symbol.

“ICI is extremely excited to partner with David Gow and SportsMap as we continue to deliver our innovative software and hardware solutions," says Gary Strahan, founder and CEO of ICI, in the release. "We believe our software and sensor technology can change the way companies across industries perform predictive maintenance to ensure reliability, environmental integrity, and safety through AI and machine learning.”

Strahan will continue to serve as CEO of the combined company, and Gow will become chairman of the board. The transaction values the combined company at a pre-money equity valuation of $100 million, according to the release, and existing ICI shareholders will roll 100 percent of their equity into the combined company as part of the transaction.

“We believe ICI is poised for strong growth," Gow says in the release. "The company has a strong value proposition, detecting the overheating of equipment in industrial settings. ICI also has assembled a strong management team to execute on the opportunity. We are delighted to combine our SPAC with ICI.”

Founded in 1995, ICI provides infrared and imaging technology — as well as service, training, and equipment repairs — to various businesses and individuals across industries.

Report: Federal funding, increased life science space drive industry growth in Houston

by the numbers

Federal funding, not venture capital, continues to be the main driver of growth in Houston’s life sciences sector, a new report suggests.

The new Houston Life Science Insight report from commercial real estate services company JLL shows Houston accounted for more than half (52.7 percent) of total funding from the National Institutes of Health (NIH) across major Texas markets through the third quarter of this year. NIH funding in the Houston area totaled $769.6 million for the first nine months of 2022, exceeding the five-year average by 19.3 percent.

VC funding for Houston’s life sciences sector pales in comparison.

For the first nine months of this year, companies in life sciences raised $147.3 million in VC, according to the report. Based on that figure, Houston is on pace in 2022 to meet or surpass recent life sciences VC totals for most other years except 2021. JLL describes 2021 as an “outlier” when it comes to annual VC hauls for the region’s life sciences companies.

JLL notes that “limited venture capital interest in private industry has remained a challenge for the city’s life sciences sector. Furthermore, it may persist as venture capital strategies are reevaluated and investment strategies shift toward near-term profits.”

While life sciences VC funding has a lot of ground to cover to catch up with NIH funding, there are other bright spots for the sector.

One of those bright spots is the region’s rising amount of life sciences space.

The Houston area boasts more than 2.4 million square feet of space for life sciences operations, with another 1.1 million under construction and an additional 1.5 million square feet on the drawing board, the report says. This includes a soon-to-open lab spanning 25,000 square feet in the first phase of Levit Green.

A second bright spot is the migration of life sciences companies to the region. Two Southern California-based life sciences companies, Cellipoint Bioservices and Obagi Cosmeceuticals, plan to move their headquarters and relocate more than half of their employees to The Woodlands by the first half of 2023, according to the report.

“Houston’s low tax rate and cost of living were primary drivers for the decisions, supported by a strong labor pool that creates advantages for companies’ expansion and relocation considerations,” JLL says.

Here's what Houston startups need to know about internal communications

guest column

Startup founders often focus on outward victories. However, if they look inward and get internal communications right, this can prioritize, inspire, and retain talent, which is the heart of the company.

Consistent internal communication helps employees to understand the company's core values and mission and the evolving internal policies and procedures — health care benefits, reorganizations, remote work — that accompany a young business. Investing in internal communications also supports external public relations efforts because the best company storytellers are well-informed employees.

Consider these tactics for effective internal communications.

Prioritize messaging

In any startup, internal procedures evolve as the company grows. Take control of the narrative while easing employees' minds by prioritizing internal messaging.

Whether transitioning to a more flexible work schedule, updating healthcare benefits, or rolling out a performance review process, planning messages in advance can help team members understand the change, the impact, and how they can contribute positively to the development.

Well-informed employees help mitigate uneasiness and tend to achieve business goals more quickly. Make sure to allow the employees time to reflect and react.

Support managers

Leaders and mid-level managers play an integral role in internal communications by cascading information throughout the organization. They regularly engage with their employees, so it is important that managers feel confident and supported in their communication skills.

Managers can benefit from a common company language, talking points, or communications training for more effective and productive conversations. By identifying, clarifying, and reinforcing common goals and key objectives for managers, companies can strengthen productivity and eliminate confusion, especially if the company changes teams' roles and responsibilities.

Be consistent

Make sure that the drumbeat remains steady, whether this includes a monthly town hall meeting or weekly CEO emails. Since communication is not necessarily one-size-fits-all, use a communication approach tailored to the workforce.

For example, there might be more effective communication methods than email for employees not behind a desk. As a smaller company, take that time to connect with the team directly because as the company swells, that one-on-one experience will become increasingly difficult to manage.

Listen to employees

Delivering top-down messaging that resonates with the workforce remains critical. However, internal communication is a two-way street.

Allow team members to give valuable feedback. Encourage team members to share their thoughts about the company, concerns, and how to improve communications. Issue internal surveys or hold face-to-face meetings to gain useful insight.

Understanding these critical proof points will enable more effective communication and quick action on any issues.

Be a human

Keep humanity at the heart of internal communications. Amid the company's transition, maintain transparency and recognize the emotional toll some changes can have on teammates. The best talent will remain when they feel connected, informed and listened to.

Greater employee engagement can help build a strong company culture of accountability, authenticity and communication, setting up the business for bigger success.

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Melanie Taplett is a communications and public relations consultant for the technology, energy, and manufacturing industries.

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